Federal Reserve officials are growing more concerned about inflation, especially with the uncertainty around President-elect Trump’s policies on trade, immigration, and tariffs.

Given these risks, they’ve taken a more cautious approach to rate cuts. Initially, they planned for four cuts in 2025, but they’ve scaled that back to just two as they try to navigate the shifting economic landscape under the new administration.

With that backdrop, here’s a quick rundown of the key economic reports coming out this week:

📅 Tuesday, Jan 14th

• Core PPI m/m: Core producer prices increased by 0.2% in November, the smallest monthly gain in four months. The forecast for the next release is the same, at 0.2%. If it comes in higher than expected, it could indicate that inflation pressures are building in the production pipeline, with rising costs for producers potentially passing through to consumers.

• PPI m/m: Factory gate prices — the prices of goods before transportation, distribution, or retail markups — rose 0.4% in November, the biggest monthly jump in five months, driven by rising food and energy costs. The next report will show if these price pressures are continuing.

Note: Core PPI does not include food and energy because they’re more volatile, while PPI includes them both.

📅 Wednesday, Jan 15th

• A set of CPI reports is due on Wednesday, including Core CPI m/m, CPI m/m, and CPI y/y.

• In November, both CPI and Core CPI rose by 0.3%. Meanwhile, annual inflation increased to 2.7%, mainly due to food, energy, and shelter costs. The next report will show whether inflation pressures are still sticking around or if they’re starting to ease — particularly in key areas like shelter and transportation.

📅 Thursday, Jan 16th

• Core Retail Sales m/m: Retail sales, excluding autos, rose 0.2% in November but missed the 0.4% forecast. The next report will give a clearer picture of whether consumer spending is starting to pick up or staying below typical levels.

• Retail Sales m/m: Overall retail sales rose 0.7% in November, beating forecasts thanks to strong holiday spending, especially from auto dealers and online retailers. The upcoming report will reveal if consumer demand stayed strong through the rest of the holiday season.

• Unemployment Claims: Initial jobless claims dropped to 201K in early January, the lowest level in 11 months, despite expectations of an increase. The next report will show if claims remain low, signaling continued strength in the labor market.

Here’s an overview of the key stocks reporting earnings this week that investors and traders should keep an eye on:

📅 Wednesday, Jan 15th

• JPMorgan Chase & Co. (JPM): JPMorgan is expected to post strong earnings, with analysts projecting an EPS of $4.03. As one of the largest U.S. banks, its performance will provide a valuable read on the overall health of the financial sector and consumer lending trends.

• Citigroup Inc. (C): Citigroup is undergoing a significant transformation aimed at boosting profitability. Analysts forecast EPS growth from $5.85 in fiscal year 2025 to $7.00 in fiscal year 2026. For the upcoming quarterly earnings report, the bank is expected to post $1.24 EPS. Investors should pay close attention to updates on strategic initiatives and the bank’s progress toward its medium-term financial goals.

• BlackRock, Inc. (BLK): BlackRock, the world’s largest asset manager, is set to report quarterly earnings, with analysts projecting an EPS of $11.33 and revenue of $5.63 billion. Given its size and influence, BlackRock’s performance could offer valuable insights into global investment trends and market sentiment, something to keep an eye on.

📅 Thursday, Jan 16th

• Taiwan Semiconductor Manufacturing Company Limited (TSM): TSMC’s earnings will be closely watched for insights into the global semiconductor industry and demand for advanced chips. The company’s upcoming EPS forecast is $2.17, reflecting strong growth driven by AI hardware demand. Investors should look out for updates on capacity expansion plans and market outlooks for key sectors like smartphones, automotive, and artificial intelligence.

• UnitedHealth Group Incorporated (UNH): UnitedHealth Group’s earnings report will provide a snapshot of the health insurance and healthcare services sector. The company’s EPS forecast is $6.75, with expected revenue of $101.72 billion, representing a 7.7% year-over-year increase. Traders should focus on membership growth, medical cost trends, and the performance of its Optum health services division.

This week’s earnings will highlight how key sectors are handling inflation, demand shifts, and macro challenges and whether they’re prepared to navigate policy changes under the Trump administration.

Happy trading!

– Trade and Travel Team